Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.076%

Price spread now: Bitget against Hyperliquid−0.207%7-day average −0.172% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$830.831% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.059%−$6 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.207%, 7d avg −0.172%

Together, before fees+0.054%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.172%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02895	0.0100	pay 0.0013% / 1h	6m 35s	$755K	$220K	3x
Short	Bitget BIOUSDT	0.02889	0.0100	get 0.0050% / 4h	6m 35s	$1.3M	$554K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.207%Rate

Funding earned: $0
Price spread: −0.207% → −0.172%: −$3.53
Slippage, 4 orders: −$62.15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$86.68
Costs to cover: 0.831%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 23 min ago; Bitget: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Hyperliquid live order book, 23 min ago	2.24 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.73 bp	21.7 bp −$22	60.0 bp −$600	doesn't fit	doesn't fit

BIO on 15 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_BIOUSD	−0.1157%	1h	0.02891	−0.151%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0012%	4h	0.02892	−0.118%	$21K	$102K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0095%	4h	0.02886	−0.311%	$1.2M	$2.2M	20x	as long as short
Orderly PERP_BIO_USDC	+0.0095%	4h	0.02890	−0.173%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02895	−0.007%	$15K	$7K	3x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02895	long leg	$755K	$220K	3x
Binance BIOUSDT	+0.0100%	4h	0.02886	−0.295%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02890	−0.173%	$2.2M	$2.5M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02894	−0.035%	$1.5M	$315K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02887	−0.276%	$407K	$135K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02895	0.000%	$559K	$117K	20x	as long as short
Bitget BIOUSDTshort	+0.0100%	4h	0.02889	−0.207%	$1.3M	$554K	50x
BingX BIO-USDT	+0.0100%	4h	0.02889	−0.207%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02901	+0.206%	$34K	$66K	—	as long as short
BloFin BIO-USDT	+0.0149%	4h	0.02891	−0.138%	$262K	$7K	50x	as long as short